Mawson Infrastructure Group (NASDAQ:MIGI) Issues Quarterly Earnings Results

Mawson Infrastructure Group (NASDAQ:MIGI) posted its quarterly earnings results on Tuesday. The company reported ($12.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($10.40) by ($1.71), FiscalAI reports. The business had revenue of $3.23 million for the quarter, compared to analyst estimates of $5.30 million.

Mawson Infrastructure Group Price Performance

MIGI traded up $0.05 during midday trading on Tuesday, reaching $1.95. 116,301 shares of the company’s stock traded hands, compared to its average volume of 58,596. Mawson Infrastructure Group has a 52 week low of $1.74 and a 52 week high of $40.00. The firm has a fifty day moving average of $3.11 and a two-hundred day moving average of $8.46. The stock has a market capitalization of $2.22 million, a price-to-earnings ratio of -0.15 and a beta of 4.09.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Mawson Infrastructure Group in a research note on Wednesday, January 28th. Wall Street Zen lowered Mawson Infrastructure Group from a “buy” rating to a “hold” rating in a research report on Saturday, December 13th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce”.

Insider Activity

In other Mawson Infrastructure Group news, major shareholder Endeavor Blockchain, Llc bought 160,000 shares of Mawson Infrastructure Group stock in a transaction dated Friday, January 9th. The shares were purchased at an average cost of $4.56 per share, with a total value of $729,600.00. Following the completion of the purchase, the insider owned 1,260,000 shares of the company’s stock, valued at approximately $5,745,600. This represents a 14.55% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders purchased 424,118 shares of company stock worth $1,967,559 over the last 90 days. 2.00% of the stock is currently owned by insiders.

About Mawson Infrastructure Group

Mawson Infrastructure Group, Inc is a special purpose acquisition company formed to identify, acquire and operate businesses in the digital infrastructure sector. Incorporated in Delaware, the company focuses on high-growth areas such as data centers, fiber-optic networks, wireless towers and other critical infrastructure that supports the global digital economy.

The company completed its initial public offering in July 2021, raising capital to pursue its business combination objectives.